Columbia Sportswear company that produces outdoor apparel, footwear, accessories and equipment business has bought out its partner in a joint venture in China. In January 2014, the Portland based outdoor apparel company launched the joint venture with the Swire Resources Limited, a subsidiary of Swire Pacific Limited.
Earlier Columbia had owned 60 per cent of the entity and Swire, the other 40 percent. But recently the brand announced about owning the entire entity. Also Swire will remain the exclusive distributor of Columbia Sportswear in Hong Kong and Macau.
“We thank Swire Resources for contributing to the success and growth of the Columbia brand in China. They have been an exceptional partner for us over the years and we look forward to continuing our strong relationship with them in Hong Kong and Macau.” – Tim Boyle, CEO, Columbia
China is a key marketplace for Columbia and other outdoor apparel companies due to its fast-growing economy.
“We are very pleased with the positioning of the Columbia brand, and are committed to investing in the continued long-term success of Columbia in the crucial Chinese market. The acquisition is consistent with our strategy to speed up investment as brand led, consumer focused business in the areas of highest growth potential for our existing brands.” – Tim Boyle, CEO, Columbia
Columbia Sportswear Company also owns the Mountain Hardwear, Sorel and prAna brands. The brands sales increased by 6 per cent to US $ 795.8 million in the third quarter.
Columbia Brands Co., was founded in 1938 in Portland, 90 with a customer base spread in 90 countries. The company has built up a portfolio of brands of active lives, making it a leader in the active wear market as well as footwear, accessories and equipment industry.
